Nickel Ore Inventories at China Five Ports Grow to 15.20 Million tonnes, with Inventory Clean-up Required

SHANGHAI, Aug. 18 (SMM) – Nickel ore inventories at China’s five major ports – Tianjin, Rizhao, Lanshan, Lianyungnag, and Jingtang – increased to 15.20 million tonnes last week, up by 200,000 tonnes, Shanghai Metals Market data showed. 

 

Nickel ore stocks at the Port of Tianjin changed little last week. NPI producers worried that stocks at the port, which had been shipped there long ago, may be mixed with low-quality goods, and were thus unwilling to buy at the port. Inner Mongolian NPI plants preferred to purchase goods for future delivery. In other news, Tianjin’s port office has ordered inventories outside the port to be cleared. 

 

Stocks at the Port of Rizhao fell by 30,000 tonnes, with daily sales at 6,000 tonnes. Two ships of nickel ore ordered by traders, primarily high Fe/low Ni ore, are expected to arrive at the port before Aug. 22.

 

Inventories at the Port of Lanshan grew by 80,000 tonnes, and about 17,000 tonnes of ore were sold per day last week. Three ships of nickel ore imported by Sunyon Group, Xinhai Technology, and China National Minerals, arrived at the port last week, with another ship owned by China National Minerals expected this week. Port authority also required goods stocked outside the port to be cleared up, but the stocks outside this port were limited. Hence, total inventories of nickel ore at this port will be little affected, SMM foresees. 

 

At the Port of Lianyungang, nickel ore stocks rose by 150,000 tonnes last week. Seven ships carrying nickel ore arrived at the port, with daily trading reaching 47,000 tonnes, outperforming other ports. Another 8 ships are scheduled to arrive at the port before Aug. 18.

 

Trading at the Port of Jingtang remained muted, leaving little changes in inventories at the port.